Salt Lake City: Official Development News Thread - Part 5

[jedikermit]

Hopefully the name "Sundial" means it will be pointy. No matter what the height. 6 floors above a podium? Pointy. Strip mall? Pointy. Parking lot? P O I N T Y.

[delts145]

I will be glad to see another tower finally going up at the south end of Main. While I wish it were taller I can understand it with SLC metro's love of big business parks. Salt Lake City's downtown has yet to prove itself for the big ones. I do think that with the continued success of low vacancy rates for 111, 95 S. State, and Patrinely should be proof enough that the demand for taller office towers in Salt Lake City has arrived, even with the post COVID adjustments. I think that the 500ft.-plus residential will arrive sooner than the new tallest 500ft.-plus office towers. Although, a mixed-use new tallest wouldn't be a surprise.

[Viperlord]

This month KENSINGTON INVESTMENT COMPANY has acquired another property in Downtown SLC:

https://www.kicutah.com/properties/204-e-broadway/

[Atlas]

A flat-top 23-story office building, with a floor-to-floor height similar to 95 State, would probably have a roofline at ~330 ft (not counting any additional structures on top). A spire on top could add anything from maybe 15 ft to 100 ft and still look good depending on the design, I think. Given these numbers and the fact that the D-1 height limit is 375 ft without design review, I think a ~375 ft pointy tower seems likely.

Edit: the Walker Center spire is 90 ft tall and that is a significantly shorter building than this. 330 ft roof + 100 ft spire would be the tallest building in the city (sans Kensington).

[nushiof]

Originally Posted by Viperlord

This month KENSINGTON INVESTMENT COMPANY has acquired another property in Downtown SLC:

https://www.kicutah.com/properties/204-e-broadway/

A sibling for the Worthington Tower maybe?

[airhero]

Originally Posted by Viperlord

This month KENSINGTON INVESTMENT COMPANY has acquired another property in Downtown SLC:

https://www.kicutah.com/properties/204-e-broadway/

Is it weird that losing the Firestone would make me sad? It has kind of a 60’s auto shop vibe. If redeveloped I hope they preserve the vertical Firestone blade sign.

[nushiof]

Originally Posted by airhero

Is it weird that losing the Firestone would make me sad? It has kind of a 60’s auto shop vibe. If redeveloped I hope they preserve the vertical Firestone blade sign.

...and call it the Firestone Flats.

[allh]

Originally Posted by Viperlord

This month KENSINGTON INVESTMENT COMPANY has acquired another property in Downtown SLC:

https://www.kicutah.com/properties/204-e-broadway/

Knew for a fact this place would get bought out sooner than later. Excited to see what they're planning for it.

[SLC PopPunk]

Originally Posted by allh

Knew for a fact this place would get bought out sooner than later. Excited to see what they're planning for it.

Wonder if they will redevelop their 311 s State before we see anything here on the Firestone site.

[Makid]

If Sundial Tower is reminiscent of the BOA building, it may be over 400'. This is only because of the thought of an architectural spire being a part of the BOA building. For scale, it would add 30' to 50' to the overall height.

One thing to remember is that this site is midblock. It has a height limit of 100'. So, we will see this go through the CBDR process.

[Makid]

Originally Posted by SLC PopPunk

Wonder if they will redevelop their 311 s State before we see anything here on the Firestone site.

Originally, the 311 S State was slated next for development but as it does provide a better income than the Firestone lot, I would expect that this site would be developed first.

Now, if they just move the early height plans from 311 S State to Firestone, we could see another residential tower around the 450' height range in SLC. This could also push up the height for 311 S State site even higher.

[Always Sunny in SLC]

Originally Posted by Makid

Originally, the 311 S State was slated next for development but as it does provide a better income than the Firestone lot, I would expect that this site would be developed first.

Now, if they just move the early height plans from 311 S State to Firestone, we could see another residential tower around the 450' height range in SLC. This could also push up the height for 311 S State site even higher.

I didn’t realize 311 South State had concrete plans. Has there been renderings?

[Makid]

Originally Posted by Always Sunny in SLC

I didn’t realize 311 South State had concrete plans. Has there been renderings?

I have only heard rumors and nothing had been finalized. They are/were waiting to see how Kensington Tower was received first.

The initial plans were for something taller than Kensington but the height would be based, again, on the reception of Kensington Tower.

They want to leave an indelible mark on the City and the Skyline.

[locolife]

Originally Posted by Comrade

Not sure why you quoted me when I said that the NFL is likely not going to be successful here, so, no, I don't think my post was partial to homerism at all.

The MLB or the NHL are the only two possible, even if extremely unlikely, options because of low capacity needs (compared to the NFL).

The average attendance for a MLB game in 2019 was just 28,317.

The average attendance for a NFL team in 2019 was 66,151.

Definitely a big gap.

Didn't mean it personally towards you, just meant in general these topics get tend to get very opinion oriented and a sense of local pride sometimes overrides the sheer numbers.

I think SLC is just right where it's at and the numbers support that, so I agree with you. But crazy things do happen, somehow Jacksonville and Buffalo have NFL teams but I'd be surprised if such a move would happen today.

As far as the numbers go, those are per game so keep in mind an MLB team also over 81 regular season home games whereas an NFL team has 8. So that's an average of 2.3 million fans through the turnstiles each year whereas an NFL team you're talking around 500K.

Personally, I think MLB is in big trouble. It's not on the decline I expect MLS to overtake it unless something changes. The lack of competition is horrible, it heavily favors big city markets, if you're not in one then winning consistently is almost impossible due to the revenue sharing structure or lack thereof in it. Further to that the pace of play is extremely slow, it's not attracting younger fans interest, and therefore tv ratings/attendance is on a downward trend.

So if I had to pick one for SLC, I'd agree with you on hockey. But my vote is still keep it as-is.

[Makid]

I was reviewing the JLL PDF that includes information regarding Sundial Tower and figured many others might be interested as well:

On the positive side, business sectors that remain strong locally, including
aerospace and defense, financial services and self-storage signed large
leases in Q1 2021 – a sign that the diverse economy is moving in a positive
direction. Extra Space Storage leased 91,947 s.f. at Cottonwood Corporate
Center – an expansion of their existing space in the park. Additionally, UBS
signed the first lease at the forthcoming 95 State high rise in the CBD, where
it will occupy the 22nd floor.

UBS will be moving from the Wells Fargo building to 95 S State. They are also increasing their overall footprint in SLC.

Also, it looks like the CBD area has an 11% vacancy rate for Class A office Space. The Periphery is at 10.2%. There are many areas that saw a large reduction in office space leasing. Overall, this does bode well for the CBD and Periphery areas. Hopefully this growth does continue in the Commercial sector as it would compound the Residential growth that we have seen. It will push the City further into the uncharted growth that we have been seeing.

Lastly, there is this:

The first of two 150,000-s.f. buildings at Dakota Pacific and Gardner Batt’s
The Mill development in the Interchange submarket is slated to open at the
beginning of April and is 83% leased.

Hopefully this means that we are closer to seeing an update from Dakota Pacific regarding the Regent Street Hotel project.

[Atlas]

What is considered the periphery of the CBD? Also, is "The Mill" referring to the office part of the "South City" development in SSL between Main Street and West Temple?

[Makid]

Originally Posted by Atlas

What is considered the periphery of the CBD? Also, is "The Mill" referring to the office part of the "South City" development in SSL between Main Street and West Temple?

I am not sure about the periphery. The Mill area I think is around 6200 South 3000 East in Cottonwood Heights.

[bob rulz]

I love seeing new tower rumors in Salt Lake. I salivate at what our skyline could look like in 2030.

[ctobsl]

Originally Posted by airhero

Is it weird that losing the Firestone would make me sad? It has kind of a 60’s auto shop vibe. If redeveloped I hope they preserve the vertical Firestone blade sign.

I was thinking the same thing. I like the look of that building, even if it is located in the city.

[msbutah]

Someone has filed a signature initiative to get the SL City Council to designate the Pantages and Capitol Theatres as historic landmarks.
https://www.slc.gov/attorney/recorder/initiatives/